Shopify Payments is relatively new to the competition; it is the new payment gateways leader.
Having Shopify payments is the one-stop solution for everything. It complies with Payment Card Industry (PCI) standards and has highly secure checkouts.
When it comes to its statistics, it has more than 1,700,000 businesses around the world.
Shopify is a popular commerce platform that provides businesses with a wide range of sales tools and services.
The Shopify ecosystem is massive, with the potential to be a one-stop-shop for online stores, POS hardware, inventory management, staff management, and more.
Moreover, Shopify Payments hasn't just filled that single gap. It has also made payment processing on Shopify websites easier, less expensive, more convenient, and secure.
Let’s understand more about Shopify Payments.
What Are Shopify Payments?
Let’s first understand what exactly the Shopify payment is.
Shopify Payments is the payment processing feature in Shopify that allows you to accept credit and debit cards, as well as additional payment methods.
It is a legitimate payment gateway that is completely trustable.
Let’s know how much it cost?
Shopify charges a 0.5%-2% commission charge to process your transactions.
While there is no monthly charge for Shopify Payments, the amount you pay for transactions is affected by your Shopify plan.
Let’s understand setting up Shopify Payments.
Shopify Payments Set up
Regarding setting up Shopify payments, there is one thing you must keep in mind is your store’s currency.
Because it is the currency in which you price your products and which is referenced in your reports.
That’s why it is essential to select your currency first.
However, there’s even an option to go back. You can contact the Shopify support to change your store currency.
Here are a few steps to consider on the desktop:
- First of all, go to your settings and then to payments.
- Now all you have to do is activate the Shopify payments.
- If you haven't yet added a credit card payment provider to your account, go to the Shopify Payments section and click Complete account setup.
- If you want to use a different credit card payment provider, click Activate Shopify Payments in the Shopify Payments box and then Activate Shopify Payments in the dialogue.
- Enter the necessary store information and banking information, then click Save.
Benefits of using Shopify Payments
The Shopify payments have some greater advantages to consider.
The technology Shopify payments use here is Strips’ but it’s more user-friendly, faster, and streamlined.
Shopify Payments is fully integrated with the dashboard of your store. It is not necessary to apply for a merchant account.
Furthermore, after you've configured Shopify Payments for your company, your funds will be in sync with your inventory and sales.
Check out the benefits below:
1. Quick Integration:
One of the greatest advantages of Shopify payments is its quick integration which means it is one of the best to consider when having a Shopify store.
Shopify Payments eliminates the need for your customers to leave your website when making a purchase.
Shopify Payments eliminates the need for your customers to leave your website when making a purchase.
You can track your orders and finances from your dashboard thanks to the payment back-office.
It's a quick and easy way to see how much you've earned from each order paid for with Shopify Payments.
2. Saves Transaction Fees
It saves the transaction fees as you use Shopify payments as a default payment gateway.
Accepting payments through a third-party platform incurs transaction fees, which can add up over time.
The transaction fee is waived with Shopify Payments, resulting in significant savings.
3. Offline sales
Shopify Payments is integrated with Shopify POS (Point of Sale). All of your sales data, both online and offline, is in one place.
This enables Shopify Payments to support offline sales, which are currently not supported by major third-party platforms such as PayPal.
4. Payment Flexibility
When you enable Shopify Payments, it is not the only payment method available to your clients.
Activating Shopify Payments doesn’t make it the only payment method your customers can use.
Customers can use any other popular payment source, such as Authorize.net, PayPal, or Amazon Pay.
Customers that prefer a certain payment provider can still make a purchase at your business even if you're set up with Shopify Payments.
No comments:
Post a Comment